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<br />\ <br /> <br />e <br /> <br />e <br /> <br /> <br />UNCIL AGENDA ITEM <br /> <br />Appropriation <br /> <br />Requested By: C nthia B. Alexander <br /> <br />Source of Funds: <br /> <br />Department: Finance <br /> <br />Account Number: <br /> <br />Report: X Resolution: <br /> <br />Ordinance: <br /> <br />Amount Budgeted: <br /> <br />Exhibits: Investment Policv <br /> <br />Amount Requested: <br /> <br />Exhibits: <br /> <br />Budgeted Item: <br /> <br />YES <br /> <br />NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />The City Council of the City of La Porte originally adopted an Investment Policy on January 13, 1992, by Ordinance <br />No. 1802. The policy was last amended in February 2003. The Governmental Accounting Standard's Board <br />(GASB) Pronouncement 31 requires that a City must present the Investment Policy to Council annually. <br /> <br />On July 26, 2004, the Finance Department presented the Investment Policy to the Audit Committee for review. No <br />changes to the actual policy are recommended at this time, but the Approved BrokerlDealer Exhibit has been <br />amended to include the addition of a new approved broker. Exhibit C, the Investment Strategy Statement has also <br />been amended to reflect changes in the City's benchmark. <br /> <br />Action Required bv Council: <br /> <br />Recommend that the Council receive and approve the report on the Investment Policy. <br /> <br />Approved for Citv Council Aeenda <br /> <br />riA tl!14-J ~ ~J-tfJ~ <br /> <br />:6ebra B. Feazelle, ity Manage <br /> <br />9 -:2;) -D Y <br /> <br />Date <br />